Debe Maxwell

CHARLOTTE NORTH CAROLINA HOMES FOR SALE: SEPTEMBER, 2008 REPORT

Charlotte, despite the national market trend, continues to show a relatively stable real estate market. Charlotte North Carolina homes for sale, including ONLY single family homes (no condos/townhomes, farms or land), are currently at 6,538 properties available. Of those 6538 (graph below) homes on the market in Charlotte, 810 of them are new construction single family homes. Days on the market are somewhat higher for new construction but, some of the data is skewed by homes that are listed when building begins rather than completion of building with CO (certificate of occupancy) obtained.



Charlotte North Carolina Real Estate market absorption rate is shown below. Note the slight increase of our supply over the past year from 8.41 month supply to 8.66 month supply. Again, we're definitely in a buyer's market but, sellers continue to procure over 96% of their asking price! Days on the market have also not increased significantly (from 81 to 87). Not bad for a 'down' market is it?



September sales in the Charlotte NC market show (below) that sellers walked away with 96% of their list price and their time on the market was 90 days. Again, these listings are only those that are single family homes sold in Charlotte NC in September, 2008.



Finally, the Charlotte North Carolina real estate sales graph below shows a breakdown in price range of the homes SOLD in September, 2008. Higher priced homes ARE moving but, their days on the market are somewhat longer than those under $250K. This is to be expected in any market!



If you're thinking of buying Charlotte North Carolina real estate, you couldn't buy at a better time! The supply is good, the prices better than before and the mortgage rates are certainly affordable! Now, let's go shopping!

Shop for your Charlotte home here.

About the author:

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte NC or any place in the country by connecting you with a relocation professional in your destination of choice. Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. The destination service is of no cost to you! Please visit www.TheMaxwellHouseGroup.com for your relocation and/or your local needs. Debe Maxwell- HELEN ADAMS REALTY - 704.491.3310 Debe@DebeMaxwell.com Copyright © 2008 By Debe Maxwell, All Rights Reserved...*Charlotte North Carolina Homes For Sale--SEPT 2008 Report*

How Do I Get the Real Scoop on Home I am About to Purchase?

Home inspections, seller disclosure requirements and your REALTOR's experience will help. Disclosure laws vary by state, but in North & South Carolina, the law requires the seller to complete a real estate (property) disclosure statement. Here is a summary of the things you will see on a disclosure form:

* In the kitchen: range, oven, microwave, dishwasher, garbage disposal, refrigerator (if included).
* Safety features such as burglar and fire alarms, smoke detectors, sprinklers, window screens and intercom.
* The presence of a TV antenna or satellite dish, carport or garage, automatic garage door opener, rain gutters, sump pump.
* Amenities such as a pool or spa, patio or deck, built-in barbeque and fireplaces. You will note that alot of homeowners with homes over 50 years old, may opt to sell their home with no disclosure made regarding the fireplace--'Fireplace Sold As Is'--you will want to be certain to have your inspector evaluate and see if he recommends a separate fireplace inspection.
* Type of heating, electrical wiring, gas supply and presence of any external power source, such as solar panels.
* The type of water heater, water supply, sewer system or septic tank.
* Age and condition of roof.

Sellers also are required to indicate any significant defects or malfunctions existing in the home's major systems. A checklist specifies interior and exterior walls, ceilings, roof, insulation, windows, fences, driveway, sidewalks, floors, doors, foundation, as well as the electrical and plumbing systems. The form also asks sellers to note the presence of environmental hazards, walls or fences shared with adjoining landowners, any encroachments or easements (which may also be confirmed with a survey, which is HIGHLY recommended), room additions or repairs made without the necessary permits or not in compliance with building codes, zoning violations, citations against the property and lawsuits against the seller affecting the property.

Also look for, or ask about, settling (remember vertical cracks are normal--check into the horizontal ones), sliding or soil problems, flooding or drainage problems and any major damage resulting from natural disasters or acts of nature.

People buying a condominium must be aware of covenants, codes and restrictions or other deed restrictions. It's important to note that the simple idea of disclosing defects has broadened significantly in recent years. NC & SC have mandated disclosure forms that are available in the home or on the MLS listing (ask your agent for information).

Make sure that you have a home inspection to include general, mechanical, termite and, if necessary, structural, roof, chimney, pool or radon.

Also, ascertain that your agent has secured a home warranty for you during the negotiations. If he/she has not, PURCHASE ONE!

About the author:

Shop for your Charlotte home here.

1. ImaginOn: The Joe & Joan Martin Center. Reflecting an original approach to education, learning and the arts, the 106,000 square-foot facility serves as an unprecedented resource for families, creating a synergy between educational drama experiences and the critical skills of reading unlike any in the country. www.imaginon.org

2. Join the half-million people from all over the United States who visit Discovery Place. Now featuring A Day in Pompeii through Sunday January 4, 2009. Discovery Place is an ever-changing, ever-growing, cutting-edge science center that is great for ALL ages! Visit www.DiscoveryPlace.org for more information.

3. Catch the NFL Carolina Panthers as they compete at Bank of America Stadium during the 2008 - 2009 season. Home games include a battle with the Kansas City Chiefs and away games included Super Bowl champs, New York Giants! www.panthers.com

4. Shop ‘til you drop at SouthPark Mall, one of the area's leading tourist attraction! An amazing, upscale mall, SouthPark offers a multitude of stores and restaurants, including Tiffany, Nordstrom and Crate & Barrel. There's something for everyone here at SouthPark! For a list of shops & restaurants, visit www.SouthPark.com

5. The Belk Theater on North Tryon Street, is hosting the winner of NBC's America's Got Talent contest, Terry Fator this month! Terry Fator is a World Class Impersonator, comedian, singer and ventriloquist and according to America's Got Talent, is THE #1 entertainer in America! His characters sing and sound JUST like national recording artists! Join the fun at the Belk Theatre on Friday, October 10. Phone 704.372.1000 or visit their website for ticket information.

About the author:

Shop for your Charlotte home here.